With the stock market significantly oversold this week, he leveraged his funds by picking stocks across a wide range of sectors, including energy, technology and materials. They also added a former club chip maker to the bullpen and upgraded their premium beer name to a buy rating. Finally, Friday’s market reversal helped deliver on a pledge to shed once-downtrodden healthcare stocks. A day-by-day look at our portfolio movements during an eventful trading week fueled by investor concerns about economic conditions and rising bond yields. MondayEarly in Monday’s session, the company raised his 200 shares of Coterra Energy (CTRA). This is the first time in about two months that we have strengthened our position among oil and gas producing companies. According to the S&P 500 Short Range Oscillator, the market is oversold, so our investment discipline required us to look for distortions in our portfolio. And Cotera’s stock price did not adequately reflect the recent rally in natural gas prices, which has only gained momentum throughout this week. Natural gas futures jumped 5% on Friday, trading at about $3.33 per million British thermal units (MMBtu). Tuesday As the market entered Tuesday’s session in its most oversold state since March, we once again looked for places to strategically deploy some of our funds. That brings us to coffee giant Starbucks (SBUX), which has been dogged by investor concerns about the health of its business in China. At the same time, I also added Advanced Micro Devices (AMD) to my bullpen, a repository of stocks I’m considering adding to my portfolio. There was some nibbling on Broadcom (AVGO) stock late in Tuesday’s session as the market’s decline accelerated. China’s slower-than-expected post-coronavirus economic recovery is troubling many U.S. stocks, including Starbucks. After closing at $114.46 per share on May 1, the stock began declining for several months, closing on Tuesday at its lowest level of the year at $89.48 per share. But the reason I decided to buy 50 shares on Tuesday is that the risks from China, the second-largest market for coffee makers after the United States, are largely priced into the stock price. We’re revisiting AMD less than two months after it stepped down as a chipmaker and replaced it with rival Broadcom as we gain a better understanding of AMD’s role in the broader semiconductor space. This is because I have come. Admittedly, we haven’t taken any further action on AMD stock, but we generally welcome it and are closely monitoring the company’s position in the artificial intelligence race. Tech stocks remained under pressure Tuesday afternoon, with an opportunity to buy seven shares of Broadcom to lower its cost basis. The acquisition also strengthened the company’s position at Broadcom before completing a mega deal with data center software maker VMWare (VMW). Management says it expects the transaction to close by October 30th. However, the stock returned to the red on Thursday, leaving the market firmly in oversold territory. Against this backdrop, we made two purchases, starting with 65 shares of DuPont de Nemours (DD), and then returned to the depressed tech sector to purchase an additional 75 shares of Oracle (ORCL). Did. We also raised the rating on beer maker Constellation Brands (STZ) to ‘1’, as the company’s stock price fell 3% despite announcing better-than-expected quarterly results and raising its full-year outlook. At current levels, it appears to be a buyer. Thursday marked the first time since Aug. 18 that the company increased its position in chemical giant DuPont and its third deal overall. The company initiated the position on August 7 due to its strong capital return potential and exposure to the semiconductor and electronics industry. Oracle stock remained in post-earnings slump on Thursday amid a broader tech downturn. However, as we asserted in mid-September in the initial aftermath of our report, we remain confident in the ability of Oracle’s cloud business to benefit from growth in AI workloads. This belief was the basis for a small buy on Thursday afternoon, as well as when it undermined Oracle on September 18th and September 26th. Oracle remains less harshly rated than its peers. The strength of Constellation Brands’ beer business, led by Modelo and Corona, was revealed in its fiscal second quarter 2024 print issue published Thursday. Still, the stock price continued to fall over the past two trading sessions. But as Jim emphasized on Friday, big things are on the horizon for Constellation. It’s Investor Day on November 2nd, during which we expect to see an update on strategies influenced by activist investor Elliott Management. Friday Stocks initially fell on Friday as bond yields soared after the U.S. Department of Labor released better-than-expected September employment data. However, the market reversed course in midday trading, with all three major US stock benchmarks trading significantly higher. A strengthening market pushed Humana (HUM) stock above the $500 level. This is the signal to ring the register at 15 shares. We’ve been eyeing the $500-per-share level for a while now, as Humana stock begins to recover from an 18% drop in early summer due to concerns about rising health care costs. Sentiment eventually started to turn around, and Humana’s August 2nd earnings report provided further assurance to investors that earnings would remain resilient. We continued riding despite the turbulence and made one purchase towards the June low. Although the stock hasn’t returned to its May highs, it made sense to fight hard and lock in profits on Friday. Additionally, we downgraded the stock’s rating to 2. This means waiting for a pullback before buying additional shares. (Jim Cramer’s Charitable Trust is long CTRA, SBUX, AVGO, ORCL, DD, HUM, STZ. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s his CNBC Investing Club , trade him and receive alerts. Before Jim trades. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust’s portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
People walk in front of the New York Stock Exchange (NYSE) on February 14, 2023 in New York City.
Spencer Pratt | Getty Images News | Getty Images
With the stock market significantly oversold this week, he leveraged his funds by picking stocks across a wide range of sectors, including energy, technology and materials. They also added a former club chip maker to the bullpen and upgraded their premium beer name to a buy rating. Finally, Friday’s market reversal helped deliver on a pledge to shed once-downtrodden healthcare stocks.
